Why Vipshop Plunged Today
Vipshop(VIPS) The Motley Fool·2024-08-20 20:35The Chinese online clothing retailer issued soft guidance, but shares look incredibly cheap.Shares of Chinese online retailer Vipshop (VIPS -17.55%) were falling hard in Tuesday trading, down 17.2% as of 3:03 p.m. ET.The company reported earnings this morning, and while second-quarter numbers beat expectations, which were conservative heading in, third-quarter guidance may have surprised investors with regard to how weak it was.It looks as though the Chinese consumer is still in a funk. But are Vipshop shar ...